SpiceJet to Receive funds from Promoter, Says Airline to DGCA

Promoter of SpiceJet, the Sun Group, will infuse funds into the financially struggling airline

Financially strapped SpiceJet assured the government that its promoter, Sun Group, will infuse funds into the airline.

However, the sum has not been revealed by the airline.

Reuters

The management team of the beleaguered airline promised to submit a detailed plan on the airline's revival on Monday, in line with the deadline set by the Directorate General of Civil Aviation (DGCA.)

SpiceJet COO Sanjiv Kapoor met the civil aviation secretary V Somasundaran on Friday, and reiterated that the promoters remained committed to the airline's future.

He contended the figures quoted by media houses, adding that lessors are owed around Rs. 200 crore, against the 700 crore making the rounds. Government sources put the figure at Rs.1,630 crore, according to the filing with DGCA.

Shilpa Bhatia, SpiceJet's senior vice-president and head for sales, held a conference call with travel agents, assuring that all dues remained safe and a plan will be shared with them on Monday.

The airline's advance booking facility is limited to a 30-day window, as per DGCA order; with the regulator also withdrawing 186 flight slots held by SpiceJet.